The testnet for Facebook-backed stablecoin project Diem has crossed 50 million transactions.

According to data from cryptocurrency platform blockchain explorer, the testnet has reached 52,275,496 transactions.

Testnet is an alternate cryptocurrency used for experimenting without using the real cryptocurrency. The purpose of testing is for developers to spot and fix any possible glitch and faults within the network before launching to the general public.

Data reveals that over 221,000 individual addresses have interacted with Diem, out of which a single account has over 100 million LBR, followed by an account with close to 79, 000 LBR, then 900 LBR sitting on the third place.

51 accounts have 820 LBR, three accounts have 100, 62 and 29.59 LBR respectively, while a host of others have 1 LBR. LBR is the token that runs on Diem.

According to the data, the transaction per speed (tps), i.e. the transaction speed per second of Diem is 3 tps as against Bitcoin’s 4.6 tps and Ethereum’s 15 tps.

The current price of bitcoin is $31,575.86, climbing up by 3.22% in the last 24 hours. Bitcoin has a current market cap of $587.69B and market volume of $53.79B. In the last 24 hours, bitcoin has dropped to $29,298.03 and experienced a $31,919.70 high.  Currently, 18,612,806.25 bitcoins are in circulation.

Stats and Image from Coin Desk

There were reports that insiders involved in Diem formerly known as Libra have revealed that 2021 was picked as the year it will launch to the public in a “limited format.”

The Diem project has faced a lot of oppositions from world regulators. Among them was German Finance Minister Olaf Scholz who stated that Germany and Europe cannot, and will not accept Facebook Libra into their markets.

Despite stiff resistance Diem is facing, Streaming music giant Spotify announced two job roles which require qualified candidates to have extensive experience in Diem project.